ServiceSource Strengths, Domain Expertise, and Key Differentiators
ServiceSource sells recurring revenue management applications. By integrating software, managed services and data, the vendor provides end-to-end management and optimization of the service-contract renewals process, including data management, quoting, selling and recurring revenue business intelligence. The vendor receives commissions from its customers based on renewal sales under a pay-for-performance model.
ServiceSource outsourced go-to-market services provider that accelerates B2B digital sales and customer success transformation. ServiceSource drives billions of dollars in client value annually, conducting commerce in 45 languages and 178 countries.
ServiceSource Recent Developments
In September 2019, ServiceSource has extended its ability to create successful business-to-business (B2B) customer acquisition, expansion and retention experiences by adding new digital commerce options to its portfolio of solutions. With newly enhanced capabilities, ServiceSource can digitize and automate transactions to drive better efficiencies into client operations, creating unified online and offline experiences that enable a blended right touch for interactions with existing and potential B2B customers.
ServiceSource Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying ServiceSource applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of ServiceSource and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified ServiceSource Customer Journey Experience customers.
ServiceSource Overview
Ownership: - NASDAQ:SREV
Number of Employees: 3500
Functional Markets: CRM,
Key Verticals: Automotive, Banking and Financial Services, Healthcare, Life Sciences, Manufacturing, Professional Services, Retail,
ServiceSource Key Enterprise and Cloud Applications
ServiceSource Customer Journey Experience
ServiceSource Revenues, $M:
| Type/Year | 2019 | 2020 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
ServiceSource Revenue Breakdown By Type, $M:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
ServiceSource Enterprise Applications Revenues By Functional Markets, $M:
ServiceSource Enterprise Applications Revenues By Verticals, $M:
ServiceSource Revenues By Region, $M
| Region | % of Total Revenues | 2020 Total Revenues, $M | 2020 Enterprise Applications Revenues, $M | 2020 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
ServiceSource Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
ServiceSource Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified ServiceSource Customers
No. of ServiceSource Customers: x
No. of ServiceSource Enterprise Applications Customers: x
No. of ServiceSource Cloud Customers: x
No. of ServiceSource Cloud Subscribers: x
In June 2021, ServiceSource signed an agreement to deliver an innovative revenue retention solution for a new client in the cloud-based collaboration and communication market. The new client provides digital collaboration solutions to more than half of the Fortune 100 and serves millions of daily active users in more than 150 countries worldwide. Broadly recognized as an industry pioneer and category creator, the client chose to partner with ServiceSource in launching a new holistic renewal, extension, and health check program to sustain its 40 per cent-plus annual growth rate.
In June 2021, ServiceSource expanded its digital Inside Sales program with a cloud communications client to further support their go-to-market acceleration. The client is a market leader, helping thousands of businesses build deeper connections with their customers and processing billions of calls each year. Growing more than 30 per cent annually and with ambitious plans to build on its strong sales momentum, the client initially engaged ServiceSource in the fourth quarter of 2020 to deploy a digitally-enabled inside sales motion. Based on the rapid success of the initial deployment using ServiceSource’s High-Performance Selling process, the companies recently agreed to triple the size and scope of the initial program.
In October 2020, ServiceSource extended its global client relationship with Qlik, a provider of end-to-end data integration and data analytics solutions. ServiceSource has managed revenue renewal, customer success and inside sales services for Qlik since 2016. Under the terms of a new three-year agreement, ServiceSource will leverage its holistic CJX™ suite and best-in-class customer success capabilities to further strengthen Qlik’s customer adoption, retention and growth initiatives across three global regions with support for a dozen different languages.
Among ServiceSource's customers are Dell, BazaarVoice, Avaya, GE Healthcare, BT, Rockwell Automation, Adobe, Affymetrix, Agilent Technologies, Aspect, Beckman Coulter, Blue Coat, Cardiac Science, CareStream, EMC, FrontRange, IBM, Intra Links, Isilon Systems, Jive, Johnson Controls, Juniper Networks, Microsoft, Motorola, Pitney Bowes, RedHat, RiverBed, Roche, Rockwell Automation, Salesforce, Siemens, Workday, SuccessFactors, Steris, VMware and others.
ServiceSource Market Opportunities, M&A and Geo Expansions
In October 2021, ServiceSource signed a new contract with Dropbox, a global leader in cloud storage and content collaboration. Through this agreement, ServiceSource adds to its growing roster of brand name clients in the hyper-competitive cloud solutions space, further establishing its digital inside sales services as a strategic advantage in fast-growing markets.
In May 2020, ServiceSource extended its relationship with Red Hat, Inc. Through a new agreement, ServiceSource builds upon its history of strong collaboration, focused on supporting Red Hat’s mid-market customer relationships.
In November 2018, ServiceSource released an expansion of its existing partnership with Extreme Networks, Inc., a global provider of software-driven network technology. The engagement, which has been extended through 2020, broadens ServiceSource's opportunity to include new edge, campus and data centre solutions that have been acquired by Extreme over the past two years.
ServiceSource Risks and Challenges
In December 2020, ServiceSource promoted Jenny Frank to the position of Chief Accounting Officer. Reporting to Chief Financial Officer Chad Lyne, Ms Frank will directly oversee all corporate accounting, SEC reporting, treasury, procurement, stock administration, and internal audit functions globally.
In October 2020, ServiceSource appointed Chad W. Lyne, ServiceSource’s Executive Vice President of Strategy, Corporate Development, and Investor Relations, will succeed Richard G. Walker as Chief Financial Officer (CFO) on Nov. 1, 2020. Walker, a member of the Company’s Board of Directors since Oct. 2017 and CFO since Nov. 2018, will continue serving on the Company’s Board of Directors and will continue to serve in an advisory capacity to ServiceSource through Dec. 15, 2020, as part of the planned transition.
During 2019, ServiceSource made several new appointments to the Board of Directors. ServiceSource appointed Andrew (Andy) M. Baker, Jane Okun Bomba, John A. Meyer, and Robin L. Smith to the Company’s Board of Directors, effective immediately. The Company also declared that independent directors Robert G. Ashe, Bruce W. Dunlevie, and Thomas F. Mendoza intend to retire from service on the Board at the expiration of their current terms and will not stand for re-election at ServiceSource’s 2020 Annual Meeting of Stockholders.
In 2019, ten customers represented 74% of total net revenue.
ServiceSource Ecosystem, Partners, Resellers and SI
The company sells its solutions directly through sales representatives in North America, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan.
In March 2018, ServiceSource expanded its existing presence in Sofia, Bulgaria. The expansion will increase the centre's capacity by more than 50% and support clients who are focused on capturing growth opportunities across Europe, the Middle East and Africa (EMEA).
Furthermore, ServiceSource released increasing its existing footprint in Manila, Philippines, and has also opened an office in Okinawa, Japan. These expansions are in response to positive market reception and growing demand in the Asia-Pacific Japan region (APJ) for ServiceSource's industry-leading inside sales capabilities.
ServiceSource Cloud Infrastructure Insights
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- ServiceSource Public Cloud and Infrastructure (IaaS)
- ServiceSource Platform (PaaS)
- ServiceSource Application Delivery
- ServiceSource Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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